Carigali Overseas takes another Equatorial Guinea block

By the OGJ Online Staff

HOUSTON, Feb. 5 -- Carigali Overseas Sdn. Bhd., an affiliate of Petronas, has signed another production-sharing agreement with Equatorial Guinea for Corisco Bay Block N in the Rio Muni basin, said block partner Ocean Energy Inc., Houston.

Block N covers 678,000 acres in up 660 ft of water.

Ocean said its holding of 30% of the block will bring its total Equatorial Guinea holdings to more than 2 million gross offshore acres.

Vanco Equatorial Guinea will hold 10%. Carigali will hold 60% of and operates Block N. GEPetrol, Equatorial Guinea's national oil company, will have a 15% carried interest in the block.

The block is south of Ceiba field and three other recent discoveries and north of the northern Gabon Salt basin.